The production media and the enzymatic charateristics of laccase from Flammulina velutipes were investigated. The activity of laccase during incubation reached to the maximum at the 40 days of incubation in the case of Barley straw medium. The maximum laccase activity in Barley straw medium was 5 and 16 times higher than those in Onion basic and Sawdust media, respectively. The laccase from Flammulina velutipes has the optimum pH of 6.6 and showed to be stable at relatively broad pH range. 4.5-9.5. Temperature stability showed that above 96% activity could be preserved after holding at 40$^{circ}C$ for 40 minutes. At the above 70$^{circ}C$, the laccase activity decreased very rapidly. The Km value of the laccase was estimated to be 28.0 mM which is much higher than that of the laccase from Pleurotus ostreatus. Organic solvents for precipitiation of the enzyme did not inactivation the laccase. Sodium azide which was added for preventing microbial deterioration affected significantly the inactivation of laccase, but this activity was recovered completely by precipitating the enzyme with acetone.